Treasurys Rise on Bernanke Tailwind

Sign of rates stabilizing??

(Bloomberg) Treasruy 10-year notes traded at an almost three-week low as an unexpected drop in existing-home sales in June boosted bets the Federal Reserve will maintain monetary stimulus to support the economy. Pacific Investment Management Co.'s Bill Gross said yeserday that the Fed won't tighten policy until 2016 at the earliers. Ten-year yields had climbed to the highest since August 2011 this month after Fed Chariman Ben Bernanke said in June the central bank could reduce asset purchases this year. The U.S. will sell $99 billion in two, five, and seven-year notes this week.

See www.bankofutah.com for today's rates!